Lumber Prices Increasing

Lumber prices have taken a large jump, particularly softwood lumber, which includes framing lumber for new home construction. Much of the soft lumber used for construction is imported from Canada. The imports were governed by NAFTA and the Softwood Lumber Agreement. The Softwood Lumber Agreement expired last year, and the current administration has signaled it wants to do away with or renegotiate NAFTA. In response, Canadian mills have reduced exports, and increased prices. Most recently the US administration announced duties of up to 24% for softwood lumber imports. So until some kind of new agreement is reached, lumber prices are going to be volatile, and will probably continue to rise. This will translate into higher costs to build or remodel your home, and make it difficult to budget in the cost of lumber for construction. One of the ways we are working to help on the cost increases is through a builders coop. We get a discount on our lumber (among other building components), plus we are working to get locked in pricing, which will reduce the risks of large increases between our quotes and the time we order. That will help keep cost increases down, and help reduce the risk of cost overruns during construction.